Mohali, May 28 -- The Punjab Real Estate Regulatory Authority (RERA) has directed Omaxe New Chandigarh Developers Pvt Ltd to pay interest to two UT residents for delay in handing over possession of a residential unit in its 'The Lake' project at Omaxe New Chandigarh. The order came on a complaint filed by Neelam Arora and Akanksha Arora, residents of PEC Campus, Sector 12, Chandigarh, through their counsel M Shahnawaz Khan under Section 31 of the Real Estate (regulation and development) Act, 2016. According to the complaint, the complainants had booked a residential unit in the project for a total sale consideration of Rs.74.75 lakh. Under Clause 7.1 of the buyer's agreement dated December 26, 2022, possession was to be handed over by July 31, 2023. However, possession was delivered on August 11, 2024. The complainants alleged that the promoter handed over possession without obtaining occupation and completion certificates and also objected to charging on the basis of super area. In its reply, the company attributed the delay to circumstances beyond its control, including delays in regulatory approvals and the Covid-19 pandemic. It also argued that the terms regarding super area were clearly mentioned in the buyer's agreement executed between both parties. During proceedings, the authority noted that the allotment and booking process had started in 2018 and more than 95% of the sale consideration had already been paid before execution of the agreement to sell. Referring to the Supreme Court judgment in Fortune Infrastructure vs Trevor D'Lima, the authority observed that a reasonable period of three years was liable to be considered for delivery of possession. It held that the period for possession in the present case was to be counted from December 14, 2018, instead of the date mentioned in the agreement. RERA partly accepted the complaint and directed the company to pay interest on the deposited amount for the delayed period from December 2021 to August 2024....